Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Update

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 3,210,000 shares, an increase of 9.6% from the August 31st total of 2,930,000 shares. Based on an average daily volume of 604,100 shares, the days-to-cover ratio is currently 5.3 days. Currently, 19.3% of the shares of the stock are short sold.

Centuri Price Performance

Centuri stock traded down $0.50 during mid-day trading on Tuesday, reaching $15.65. 152,216 shares of the company’s stock traded hands, compared to its average volume of 526,024. The firm’s 50 day moving average price is $16.62. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.94. Centuri has a 12-month low of $14.47 and a 12-month high of $28.65.

Centuri (NYSE:CTRI) last announced its earnings results on Monday, July 29th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $672.08 million during the quarter, compared to analysts’ expectations of $760.55 million. Centuri’s quarterly revenue was down 16.6% compared to the same quarter last year. Sell-side analysts forecast that Centuri will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Fehrman purchased 20,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $16.50 per share, for a total transaction of $330,000.00. Following the completion of the transaction, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Centuri

Several hedge funds and other institutional investors have recently made changes to their positions in CTRI. Massachusetts Financial Services Co. MA bought a new position in shares of Centuri in the second quarter worth about $33,619,000. Clearbridge Investments LLC bought a new position in shares of Centuri in the second quarter worth about $5,587,000. Point72 Asset Management L.P. bought a new position in shares of Centuri in the second quarter worth about $4,339,000. Ghisallo Capital Management LLC bought a new position in shares of Centuri in the second quarter worth about $3,409,000. Finally, Maverick Capital Ltd. bought a new position in shares of Centuri in the second quarter worth about $2,922,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTRI. Bank of America dropped their price target on shares of Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research report on Tuesday, July 30th. KeyCorp started coverage on shares of Centuri in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Centuri from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Wells Fargo & Company lowered their target price on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, UBS Group downgraded shares of Centuri from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $17.00 in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.